Seaport Res Ptn Increases Earnings Estimates for Citigroup

Citigroup Inc. (NYSE:C) – Equities research analysts at Seaport Res Ptn upped their FY2024 earnings per share estimates for Citigroup in a research report issued to clients and investors on Wednesday, October 16th. Seaport Res Ptn analyst J. Mitchell now expects that the company will post earnings of $5.77 per share for the year, up from their prior estimate of $5.70. The consensus estimate for Citigroup’s current full-year earnings is $5.76 per share. Seaport Res Ptn also issued estimates for Citigroup’s Q4 2024 earnings at $1.16 EPS and Q2 2025 earnings at $1.89 EPS.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. Citigroup’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 earnings per share.

Several other equities analysts also recently issued reports on the company. Barclays upped their target price on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday. Morgan Stanley cut their price target on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday. Piper Sandler increased their price target on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Bank of America increased their price target on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Evercore ISI increased their price target on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.06.

Citigroup Stock Performance

Shares of C stock opened at $62.85 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The business’s fifty day simple moving average is $61.35 and its 200-day simple moving average is $61.92. Citigroup has a 12-month low of $38.17 and a 12-month high of $67.81. The company has a market cap of $119.88 billion, a PE ratio of 17.61, a PEG ratio of 0.74 and a beta of 1.44.

Institutional Trading of Citigroup

Several institutional investors have recently added to or reduced their stakes in the stock. POM Investment Strategies LLC purchased a new position in Citigroup in the 2nd quarter valued at approximately $25,000. Beacon Capital Management LLC lifted its position in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup during the 2nd quarter worth $31,000. Triad Wealth Partners LLC purchased a new stake in shares of Citigroup during the 2nd quarter worth $32,000. Finally, Strategic Financial Concepts LLC lifted its position in shares of Citigroup by 1,139.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after purchasing an additional 48,484 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.